Silver Price Prediction – Silver Continues to Decline

Thursday’s trading session saw a little decline in silver markets, but these declines have continued to attract buyers. In other words, the markets are once again contracting.

Thursday’s trading session saw a slight decline in the price of silver due to the continued presence of negative sentiment. Nonetheless, buyers have continued to attempt to stabilize the market. Ultimately, I believe this is a situation where there is a great deal of noise and compression, which usually results in an explosive move sooner or later. I believe it will be only a matter of time until we see significant movement in one direction or the other.

In this regard, there is a great deal of resistance above that we would have to overcome to become positive. The 50-Day Exponential Moving Average is located at $19.32, close to the downtrend line. After that, you must be concerned with the $20 level, and only after a break of all of those levels can you consider a market turnaround and potential bullishness. In addition, the Federal Reserve would need to alter its general stance, as the silver market is extremely sensitive to interest rates and the U.S. currency.

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A breach below the $18 level should continue to be supported, since a break below that level would be quite negative. The markets will continue to closely monitor whether or not there will be sufficient industrial demand to drive up prices. Despite this, it is important to note that the market has been trending lower for some time, and it will take a lot to shift this overall sentiment, especially given silver‘s inherent volatility.

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